TL;DR
Aspen's winter season is tracking 5.5% behind last year through January, with Australian tour operators reporting boycotts related to US politics and a 30% drop in American bookings. Hotels are maintaining revenue by raising rates, but the combination of political sentiment, unfavourable exchange rates, and Colorado's poor early-season snowfall has dampened what's typically the resort's strongest period for international visitors.
International Travel Weakness Hits Aspen Where It Hurts
Aspen's winter season is tracking 5.5% behind last year through January, according to the MidWinter Occupancy Report from Stay Aspen Snowmass. Combined occupancy across Aspen and Snowmass Village sits at 49.6% for the November through January period, with the decline concentrated in Aspen proper, which saw December occupancy drop 9.1% year-over-year to 57.1%.
The numbers would look worse if hotels weren't compensating by jacking up rates. Average daily rates are up 5.9% across the market, which means revenue is essentially flat despite fewer heads in beds. It's the classic move when demand softens—charge the people who do show up more money to make up the difference.
What makes this decline particularly notable is the timing. January is traditionally Aspen's strongest month for international visitors, coinciding with major events like X Games and Gay Ski Week. But January occupancy still finished down 4.2% year-over-year at 68.9%, with Aspen dropping 5.9% to 69.3%. When your peak international travel month underperforms, you've got a problem.
The industry is pointing to international travel dynamics as the primary culprit, but the details are more pointed than the typical currency and economic explanations. Australian travel agents are reporting something more direct: political boycotts.
Nick Farr, who has operated SkiAspen tour packages for 31 years, told SnowBrains that bookings to the US are down about 30% among Australian operators. Farr typically books 45 days of Aspen tours annually but has only managed 30 days this season—a 33% decline. His explanation was blunt: many of his regular clients are refusing to visit the US during the current administration.Toby Withers, Director at Travelplan, Australia's largest snow holiday operator, confirmed similar sentiment among his customers, with many stating they won't return to the US "until Trump and this administration are gone." Beyond the political angle, Australians are also facing an unfavourable exchange rate and elevated flight costs, making North American ski trips less attractive across the board.The US Travel Association's forecast supports the broader trend—inbound travel to the US is projected to fall 6.3% in 2025, keeping international visitation 15% below pre-pandemic levels. Aspen's key international markets include Australia, Canada, Mexico, and Brazil. While Brazilian demand has surged due to favourable currency conditions, it hasn't been enough to offset weakness from Canada and Australia, which have historically represented larger booking volumes.Colorado's historically dry and warm early season hasn't helped matters. When international travellers are already hesitant and you're competing against resorts with better snow conditions elsewhere, the value proposition gets harder to sell. Aspen has received 22 inches in the past week and currently has the most terrain open in Colorado, but that recent improvement doesn't change what the booking window looked like in November and December when conditions were grim.
